India's AI winners may not be IT stocks: Goldman Sachs flags 42 enablers surging 60% as Nifty falls 12%
ET Now 14 hrs ago·2 Oct 2026, 9:25 am
Sector ET Now
Goldman Sachs has highlighted a group of 42 Indian companies it calls “AI enablers,” which have collectively jumped about 60% this year even as the broader Nifty index slipped roughly 12%. These firms span hardware, data centers, cloud services and niche software, showing that the AI rally is not limited to traditional IT giants.
For investors, the takeaway is that AI exposure may be found outside the usual IT names, offering a different risk‑return profile. The strong price gains suggest market optimism about how quickly Indian firms can adopt and supply AI technologies, but the rapid rise also brings higher volatility and valuation concerns.
Going forward, watch earnings releases from these enablers, any policy moves on data localisation or semiconductor imports, and broader macro trends that could shift capital back to or away from the AI theme.
Key takeaways
- Category: Sector.
- Flagged as a high-impact, market-moving story.
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